India's Commerce and Industry Minister Kamal Nath Wednesday said that India could tide over the current global financial crisis, reported local newspaper Hiundustan Times on its website.
Kamal Nath supported his statement with the data that India received foreign direct investments (FDI) worth 2.25 billion U.S. dollars and 2.32 billion U.S. dollars in July and August respectively.
"The huge growth in FDI in India despite global economic slowdown shows how sound and resilient our economy is," Kamal Nath told reporters, adding there was nothing to worry at all.
"In August, FDI growth was 124 percent and 219 percent in July this fiscal, which is an indicator to the fact that India with its strong fundamentals can tide over global financial crisis," he said.
Referring to the inflation, which was 11.99 percent for the week ended Sept. 20, the minister said it is easing and would continue to moderate.
Source: Xinhua
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